Tesla decision on factory location not expected until year's end

Tesla doesn't plan on making a final decision on the location of its new battery factory until the end of the year.

During a shareholder meeting on Tuesday, Tesla CEO Elon Musk said the company may make plans for the "Gigafactory" in two or three states before they pick their final location.

New Mexico, California, Texas, Nevada and Arizona are all in the running for the plant, which will employ around 6,500 people.

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